December 4, 2019 / 7:55 AM / 9 days ago

UPDATE 1-UK Stocks-Factors to watch on Dec. 4

(Adds company news items and futures.)

Dec 4 (Reuters) - Britain’s FTSE 100 index is seen opening 11 points higher at 7,170 on Wednesday, according to financial bookmakers, with futures down 0.22% ahead of the cash market open.

* QUIZ: Fast-fashion retailer QUIZ Plc reported a plunge in half-year earnings and said it was exiting loss-making concessions, as it faces persistently challenging conditions on the UK high street.

* M&C SAATCHI: UK-based M&C Saatchi Plc warned of lower annual profit for the second time in less than three months, due to higher costs and weak performance in the fourth quarter, and the ad agency said it would restructure its UK business.

* STOCK SPIRITS GROUP: Stock Spirits Group said its annual profit more than doubled, driven by higher demand for its premium brand vodka in its biggest markets of Poland and the Czech Republic.

* MORRISONS: British supermarket group Morrisons promoted finance chief Trevor Strain to the role of chief operating officer, putting him in pole position to eventually take over from chief executive David Potts.

* OIL: Oil prices rose ahead of a meeting of OPEC and its allies to discuss whether to extend production curbs to support the market, while industry data showing that U.S. crude stockpiles fell more than expected helped to lift prices.

* GOLD: Gold prices hovered near a one-month high hit in the previous session, as comments from U.S. President Donald Trump dashed market hopes for a quick preliminary agreement with China, driving support for safe-haven assets.

* London’s FTSE 100 dropped to a two-month low on its fourth day in the red on Tuesday, as U.S. President Donald Trump’s nonchalance about reaching a trade deal with China spooked traders.

TODAY’S UK PAPERS

> Financial Times

> Other business headlines (Reporting by Shanima A and Samantha Machado in Bengaluru)

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